Notes to SEFA
Title: NOTE A: BASIS OF PRESENTATION
Accounting Policies: NOTE B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. B) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NOTE C: INDIRECT COST RATE Tecumseh Area Partnership, Inc. d/b/a Region 4 Workforce Board has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
NOTE A: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Tecumseh Area Partnership, Inc. d/b/a Region 4 Workforce Board under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Tecumseh Area Partnership, Inc. d/b/a Region 4 Workforce Board, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Tecumseh Area Partnership, Inc. d/b/a Region 4 Workforce Board.